Moran Wealth Management LLC Purchases Shares of 67,254 SBA Communications Co. (NASDAQ:SBAC)

Moran Wealth Management LLC acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC) in the 4th quarter, HoldingsChannel reports. The fund acquired 67,254 shares of the technology company’s stock, valued at approximately $13,706,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC grew its position in shares of SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in SBA Communications by 59.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 4,041 shares of the technology company’s stock valued at $973,000 after purchasing an additional 1,511 shares during the period. Capital Performance Advisors LLP acquired a new stake in SBA Communications in the 3rd quarter valued at approximately $35,000. CWA Asset Management Group LLC bought a new position in SBA Communications in the 3rd quarter worth approximately $331,000. Finally, Assetmark Inc. lifted its holdings in shares of SBA Communications by 4,633.3% during the third quarter. Assetmark Inc. now owns 426 shares of the technology company’s stock worth $103,000 after buying an additional 417 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $223.73 on Monday. The business has a fifty day moving average of $205.57 and a two-hundred day moving average of $220.52. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The stock has a market cap of $24.06 billion, a PE ratio of 35.29, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $1.11 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 1.98%. SBA Communications’s payout ratio is 63.98%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SBAC shares. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Finally, Wells Fargo & Company upped their price target on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.54.

Insiders Place Their Bets

In other news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.